Why 4DMedical, Develop Global, EOS, and Maas shares are racing higher today

The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and is pushing higher. In afternoon trade, the benchmark index is up 0.4% to 8,624.2 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are ending the week with a bang:

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 23% to $3.55. Investors have been buying this respiratory imaging technology company’s shares after it entered into a commercial arrangement for the clinical use of CT:VQ with United States-based Cleveland Clinic. It is a CAT scan-based ventilation-perfusion software. 4DMedical’s founder and CEO, Andreas Fouras, said: “In just over three months since FDA clearance, we’ve established CT:VQ at three of America’s leading academic medical centres: Stanford, University of Miami, and Cleveland Clinic. This rapid adoption by elite institutions demonstrates the compelling clinical and operational advantages of CT:VQ over traditional nuclear VQ imaging.”

Develop Global Ltd (ASX: DVP)

The Develop Global share price is up almost 6% to $4.43. This morning, the miner and mining services company revealed that it has been awarded a $200 million underground development contract. This will see the company establish access tunnels at OceanaGold’s Waihi North Project in the North Island of New Zealand. Develop Managing Director Bill Beament said: “This contract reflects the strength and depth of our Mining Services division, which includes some of the most experienced underground mining specialists.”

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 13% to $8.24. This has been driven by news that the defence and space company has won another contract. EOS has received a new $32 million order for its R400 Remote Weapon System (RWS) from a North American prime contractor supplying Light Armoured Vehicles (LAVs) to an end-user in South America. The undisclosed customer is described as a large, investment-grade defence manufacturer. Management notes that the RWS is being supplied by EOS in a ground-to-ground configuration. The systems will be manufactured at its manufacturing facility in Canberra during 2026 and 2027.

Maas Group Holdings Ltd (ASX: MGH)

The Maas Group share price is up 8% to $4.86. Investors have been buying its shares after it entered into an agreement with sovereign AI Factory builder and operator Firmus Technologies. This is for the delivery of turnkey modular electrical infrastructure for Firmus’ first 100MW Launceston AI Factory cluster. The Australian construction materials, equipment and service provider advised that the agreement has an estimated total value of approximately $200 million.

The post Why 4DMedical, Develop Global, EOS, and Maas shares are racing higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.